Rail Vikas Nigam Sees Surge in Open Interest Amid Increased Market Activity
Rail Vikas Nigam Ltd (RVNL) has seen a notable rise in open interest, reaching 14,870 contracts, alongside a trading volume of 18,232 contracts. The stock has outperformed its sector and is trading above key moving averages, indicating a positive trend despite a decline in delivery volume.
Rail Vikas Nigam Ltd (RVNL) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 14,870 contracts, up from the previous 13,105, marking a change of 1,765 contracts or a 13.47% increase. This uptick in open interest coincides with a trading volume of 18,232 contracts, indicating heightened market engagement.In terms of price performance, Rail Vikas Nigam has outperformed its sector by 0.67%, recovering after two consecutive days of decline. The stock reached an intraday high of Rs 442.8, representing a gain of 3.3%. Additionally, RVNL is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in its price trajectory.
Despite a decrease in delivery volume, which fell by 24.07% compared to the 5-day average, the stock remains liquid enough for trades of Rs 14.65 crore based on 2% of the 5-day average traded value. With a market capitalization of Rs 90,990.28 crore, Rail Vikas Nigam continues to hold a strong position in the engineering and construction sector. Overall, the increase in open interest and positive price movements highlight the stock's current market dynamics.
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